Eastern Creek Quarter - Stage 3 - Economic Impact Assessment - Major Projects
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Eastern Creek Quarter – Stage 3 Economic Impact Assessment PREPARED FOR Frasers Property Retail Holdings Pty Ltd as trustee of the FPR (Eastern Creek No. 3) Trust December 2020
Important Notice © Macroplan Holdings Pty Ltd All Rights Reserved. No part of this document may be reproduced, transmitted, stored in a retrieval system, or translated into any language in any form by any means without the written permission of Macroplan Holdings Pty Ltd. All Rights Reserved. All methods, processes, commercial proposals and other contents described in this document are the confidential intellectual property of Macroplan Holdings Pty Ltd and may not be used or disclosed to any party without the written permission of Macroplan Holdings Pty Ltd. Macroplan staff responsible for this report: Brian Haratsis, Executive Chairman Ellis Davies, Principal – Retail Adam Zhong, Senior Consultant
Table of contents Executive summary...................................................................................................................................... 1 Introduction ................................................................................................................................................. 4 Section 1: Site and development context............................................................................................. 5 1.1 Site and regional context .......................................................................................... 5 1.2 Planned development ............................................................................................... 9 Section 2: Trade area analysis.......................................................................................................... 13 2.1 Trade area definition............................................................................................... 13 2.2 Trade area population ............................................................................................ 17 2.3 Socio-demographic profile ...................................................................................... 19 2.4 Retail expenditure .................................................................................................. 22 Section 3: Competitive context.......................................................................................................... 25 Section 4: Supportable factory outlet floorspace and centre sales potential ........................................ 30 4.1 Factory outlet retail floorspace demand analysis...................................................... 30 4.2 Assessment of sales potential ................................................................................. 34 Section 5: Economic impact considerations....................................................................................... 35 5.1 Economic and social benefits.................................................................................. 35 5.2 Employment stimulus ............................................................................................. 37 5.3 Consideration of trading impacts ............................................................................. 38 5.5 Summary and net community benefit ...................................................................... 45 Appendix ................................................................................................................................................... 47
Executive summary Site context The 34 hectare Eastern Creek Quarter site is situated to the north of the Great Western Highway between Rooty Hill Road South and the M7 Motorway. Church Street marks the site’s northern boundary. The site forms part of the Western Sydney Parklands and is located within the Blacktown Local Government Area. It is located approximately 1.5 km south east of Rooty Hill Station. Eastern Creek Quarter and purpose of report This Economic Impact Assessment has been prepared for Frasers Property Australia to support a State Significant Development Application (SSDA) submitted to the Department of Planning, Industry and Environment (DPIE) relating to Lot 3 of the Eastern Creek Quarter Site at Rooty Hill Road South, Eastern Creek. The application seeks Concept Plan approval for the staged construction of a new factory outlet centre at Lot 3 with supporting food and beverage tenancies, and ancillary entertainment and recreation usages. This report examines the potential for a factory outlet centre as part of Stage 3 development at Eastern Creek Quarter and will include assessments of supportable floorspace, economic benefits and anticipated trading impacts on the relevant network of surrounding retail facilities. The Appendix of this report provides an analysis of the existing development consent for Stage 3 developments at Eastern Creek Quarter, comparing the current approved specialised retail concept and the proposed factory outlet development in terms of sales potential, trading impacts and employment generation. Trade area analysis • Population levels within the defined main trade area for a factory outlet development at Eastern Creek Quarter is forecast to grow strongly over the forecast period. At mid-2020, the main trade area population is estimated at almost 1.14 million (including 318,000 in the key primary sector) and is projected to reach almost 1.34 million at 2031, reflecting an average annual growth rate of 1.5% over the forecast period. • The apparel expenditure capacity generated by the main trade area population (which is the key expenditure category of factory outlet centres), is forecast to grow from $1.6 billion at 2020 to $1.9 billion at 2031, at an average annual growth rate of 1.9% over the forecast period. Competition A factory outlet development at Eastern Creek Quarter is likely to compete mostly with other factory outlet centres throughout Sydney, and to a lesser degree traditional shopping centres with a critical mass of apparel retailers, i.e. regional centres and sub-regional centres. The most relevant competitive factory outlet centres include the recently opened Fashion Spree Liverpool and the strong performing DFO Homebush. In terms of traditional retail centres, regional centres which are likely to bear some competitive influence on the factory outlet development at Eastern Creek Quarter include Westpoint Blacktown, Westfield Parramatta and Westfield Penrith. Eastern Creek Quarter – Stage 3 1 Economic Impact Assessment
Executive summary Economic benefits The proposed factory outlet development will result in a range of economic benefits, particularly for residents of the main trade area. The key positive impacts will include the following: • Alleviating some of the undersupply of factory outlet floorspace in Sydney, particularly Western Sydney; • Creating greater choice for consumers, particularly for discount fashion; • Synergy with surrounding infrastructure – potentially attracting a similar customer profile to those visiting the Sydney Zoo and Bungarribee Park at large; and • Providing an employment stimulus – with a factory outlet development projected to support over 500 ongoing jobs. In addition, the development could support 555 direct jobs during the construction phase (based on a construction cost of $130 million, including fit out works, infrastructure and other associated costs), while further jobs in the broader community would also be created from supplier induced multiplier effects during this period (based on the appropriate ABS input/output multipliers). Economic impacts The likely impacts on traditional retail centres are considered to be well within the reasonable bounds of normal competition, estimated to average around 2% for higher order centres in the Blacktown LGA. Impacts at this level are considered almost negligible and immaterial and would not in any way threaten the viability of any retailer in the area. The factory outlet development at Eastern Creek Quarter is projected to impact the surrounding factory outlet centres by no more than 4%, which is considered minor and unlikely to materially affect the viability of these centre or inhibit their ability to continue to effectively serve their respective catchments. Comparison between factory outlet and large format retail use Our analysis demonstrates that a greater range of economic and social benefits are likely to arise from a factory outlet centre as part of Stage 3 developments at Eastern Creek Quarter, compared to a large format retail centre (as approved under the current development consent). These include alleviating the undersupply of factory outlet floorspace, interacting with the other Stages of development at Eastern Creek Quarter and the surrounding infrastructure, creating greater choice for consumers through price competition and reducing leakage expenditure. The development is expected to have some trading impacts on existing traditional retail and factory outlet facilities in the region, but are greater for large format retail centres in the surrounding area, if a large format retail development was to proceed. Therefore, it is concluded that a greater net community benefit will result from the factory outlet development compared to a large format retail centre. Eastern Creek Quarter – Stage 3 2 Economic Impact Assessment
Executive summary Summary The high profile nature of the subject site is considered an ideal location for a factory outlet centre, which would have the potential to serve a large proportion of Western Sydney. A quality facility would also result in some reduction in the amount of retail expenditure escaping the municipality, while also being able to serve the visitor market, attracting spend into the area. The analysis in this report demonstrates that a range of economic and social benefits are likely to arise from a factory outlet centre development at Eastern Creek Quarter. These include alleviating the undersupply of factory outlet floorspace, interacting with the surrounding infrastructure, creating greater choice for consumers through price competition and reducing leakage expenditure. The development is expected to have some trading impacts on existing traditional retail and factory outlet facilities in the region, however, the trading impacts will not be such as to threaten any existing facility’s ability to continue operating successfully. Therefore, it is concluded that a net community benefit will result from the development of a factory outlet centre at Eastern Creek Quarter. Eastern Creek Quarter – Stage 3 3 Economic Impact Assessment
Introduction This Economic Impact Assessment has been prepared for Frasers Property Australia to support a State Significant Development Application (SSDA) submitted to the Department of Planning, Industry and Environment (DPIE) relating to Lot 3 of the Eastern Creek Quarter Site at Rooty Hill Road South, Eastern Creek. The application seeks Concept Plan approval for the staged construction of a new retail outlet centre at Lot 3 with supporting food and beverage tenancies, and ancillary entertainment and recreation usages. This report presents an independent assessment of the market potential for a factory outlet development at Eastern Creek Quarter (Stage 3), as well as examine the potential benefits and trading impacts on competitive centres in the surrounding region arising from the development. The report is structured as follows: • Section 1 details the locational context of the subject site and the Eastern Creek Quarter development. • Section 2 provides an analysis of the likely trade area available to be served by the Eastern Creek Quarter factory outlet development, including current and projected population levels, the socio-demographic profile of the population, and the estimated current and future retail expenditure capacity of trade area residents. • Section 3 provides an overview of the competitive context in which the factory outlet centre at Eastern Creek Quarter will operate. • Section 4 details the quantum of supportable floorspace and sales potential of a factory outlet centre at Eastern Creek Quarter. • Section 5 outlines the potential economic benefits and trading impacts that can be anticipated following the factory outlet centre at Eastern Creek Quarter. • Appendix examines the trade area, sales potential and anticipated trading impacts arising from the development of a large format retail centre at Eastern Creek Quarter under the current development consent, assessed against HillPDA’s Economic Impact Assessment for the subject site. Eastern Creek Quarter – Stage 3 4 Economic Impact Assessment
Section 1: Site and development context This section of report details the locational context of the subject site and the Eastern Creek Quarter development. 1.1 Site and regional context The 34 hectare Eastern Creek Quarter site is situated to the north of the Great Western Highway between Rooty Hill Road South and the M7 Motorway. Church Street marks the site’s northern boundary. The site forms part of the Western Sydney Parklands and is located within the Blacktown Local Government Area, approximately 35 km form the Sydney CBD (refer Map 1.1). This State Significant Development Application (SSDA) relates to Lot 3 of the Eastern Creek Quarter site, which is the final lot proposed to be developed. It is located in the northern part of the site and encompasses an area of approximately 7.29 hectares (refer Figure 1.1). The high-profile nature of the Eastern Creek Quarter site enables strong regional connectivity, making it an ideal site for a retail development which draws from a broad and wide-ranging area. The Great Western Highway is a major thoroughfare in the region, providing access to Parramatta in the east and Penrith to the west. The Westlink M7 links the subject site to significant growth area to the south and north and connects to the M4 Motorway, M2 Motorway at Baulkham Hills and M5 Motorway at Prestons. The subject site possesses excellent exposure to passing traffic and is connected to emerging resident populations to the north (the North West Growth Area), north-west (Penrith Lakes, Jordan Springs) and south west (Western Sydney Aerotropolis and the South West Growth Area). The locality surrounding Eastern Creek Quarter is undergoing significant development creating a number of destinational family attractions and employment hubs (refer Map 1.2). Located opposite the subject site on the eastern side of the Westlink M7, the $15 Bungarribee Park is a 200 hectare recreational and parklands, which was completed in 2017. In addition, the $45 million development of the adjoining Sydney Zoo was completed in late 2019 and is expected to draw almost 750,000 visitors per year. In conjunction with the surrounding locality, which also contains attractions such as the Western Sydney Parklands, Raging Waters, Featherdale Sydney Wildlife Park and the Western Sydney Wanderers Centre of Football, the development of Eastern Creek Quarter is expected to solidify the status of the area as a hub of leisure, recreation and tourism activities. Located in the south-eastern portion of the Westlink M7 Motorway and M4 Western Motorway, the Western Sydney Parklands Trust is developing the Light Horse Interchange Business Hub, which is planned to encompass 157,000 sq.m of industrial and light industrial floorspace, as well as 8,000 sq.m of ancillary commercial floorspace. Likely land uses for the business hub include advanced manufacturing, freight and logistics and warehouse and distribution facilities. This development follows the recent completion of Calibre Industrial Park by Mirvac, a 22-hecatre site to the west of Wallgrove Road and the north of the Western Highway which provides 120,000 sq.m of industrial floorspace and houses tenants such as CEVA Logistics, Miele and Sheldon and Hammond. Eastern Creek Quarter – Stage 3 5 Economic Impact Assessment
Map 1.1: Eastern Creek Regional context
Section 1: Site and development context Figure 1.1: Site location Source: Nearmap Eastern Creek Quarter – Stage 3 7 Economic Impact Assessment
Map 1.2: Eastern Creek Site location
Section 1: Site and development context 1.2 Planned development Table 1.1 provides a summary of the current development consent for Eastern Creek Quarter granted by the NSW Minister of Planning in 2015 and later modified by the Independent Planning Commission, acting as a delegate for the Minister of Planning and Public Spaces (2019). Table 1.1 Eastern Creek Quarter - Current development consent Existing Utilised GFA Concept Plan Stage 1 & 2 Land Use GFA (sq.m) (sq.m) Specialised Retail Premises 39,400 10,637 Recreational facility (indoor) 3,000 0 Vehicle Repair Station 400 0 Convenience Retail 10,754 10,599 • Supermarket 3,794 • Specilaty shops/ small business 6,960 Childcare centre 1,200 708 Circulation 1,684 1684 Total 56,438 23,628 Source: Frasers Property; MacroPlan A Woolworths anchored neighbourhood centre opened at Eastern Creek Quarter in June 2020. The 3,794 sq.m supermarket is supported by a number of convenience-oriented specialties, while also accommodating a fitness centre and medical centre to serve the needs of the growing community. Stage 2 of Eastern Creek Quarter has been granted approval for the development of ‘specialised retail premises’, which could accommodate a major tenant of 1,810 (plus 200 sq.m of outdoor display); 19 specialised retail premises which total around 8,300 sq.m, a tyre sales and service centre of 400 sq.m, a café and a fast food restaurant pad site. A ‘specialised retail premise’ refers to a building or place the principal purpose of which is the sale, hire or display of goods which are of a weight, size or quantity, that requires: • a large area for handling, display or storage, or • direct vehicular access to the site of the building or place by members of the public for the purpose of loading or unloading such goods into or from their vehicles after purchase or hire, • but does not include a building or place used for the sale of foodstuffs or clothing unless their sale is ancillary to the sale, hire or display of other goods referred to in this definition. Examples of goods that may be sold at specialised retail premises include automotive parts and accessories, household appliances and fittings, furniture, homewares, office equipment, outdoor and recreation equipment, pet supplies and party supplies. It is important to note that the general composition and offer between a specialised Eastern Creek Quarter – Stage 3 9 Economic Impact Assessment
Section 1: Site and development context retail premise and large format retail significantly overlap, with the size of the tenancy, the main distinguishing feature. While Stage 3, which is the subject assessment of this report, has been granted development consent to expand upon the specialised retailing of Stage 2, Frasers Property have proposed the development of a factory outlet centre in place of specialised retailing uses. The proposed SSDA seeks Concept Plan approval for a new retail outlet centre at Lot 3 of the Eastern Creek Quarter site. The Concept Plan will establish the following framework to guide the future detailed design of the Lot 3 development: • Land uses, including retail (factory outlet), food and drink premises, amusement centre and indoor recreation facility; • Building footprints, including basement, with a maximum height of 12 metres; • A maximum GFA of 39,500m2 at Lot 3 which will be staged as follows: − Phase A: 29,500 sq.m − Phase B: 10,000 sq.m • Upgrade of Church Street for vehicular access, including traffic signals at the Church Street/Rooty Hill Road South intersection; • Modifications to the Cable Place/Rooty Hill Road South/Site Access intersection; and • Modifications to the Francis Street/Eastern Road/Rooty Hill Road South intersection. It is also proposed to seek consent for a series of early works including: Removal of up to 0.73 ha of Cumberland Plains Woodlands in the south west corner of the site; Bulk earthworks within Lot 3; and Extension of the internal access road to connect to the basement car park. The proposed outlet centre at Lot 3 will necessitate the inclusion of conditions of consent which requires the modification of SSD 5175 (the existing Concept Plan for the broader ECQ site) to amend the overall allocation of GFA and associated uses, relevant Concept Plans and the existing Design Guidelines. This report is based on the Concept Plan prepared by i2C shown on Figure 1.2. Table 1.2 details the proposed Gross Leasable Area (GLA) of the development by use. It is important to note that the analysis provided throughout this report is based on GLA (unless explicitly stated otherwise), which is considered the industry standard in assessing the level of supportable retail, sales productivity (sales per sq.m) and trading impacts which can be anticipated to arise from the subject development. GLA refers to the amount of floorspace available to be rented, including the trading floor, back-of-house areas and storage. Gross Floor Area (GFA) on the other hand, refers to the total floorspace contained within a development, and includes floorspace designated for amenities and centre circulation. Eastern Creek Quarter – Stage 3 10 Economic Impact Assessment
Section 1: Site and development context Development of Stage 3A is planned to contain a retail GLA of 18,500 sq.m, comprised of 16,150 sq.m of factory outlet floorspace, 1,200 sq.m of supporting food & beverage floorspace, 1,080 sq.m of tenant storage and an assumed rate of 120 sq.m of kiosk space. An additional 1,500 sq.m is also planned for entertainment uses (which is considered a non-retail use), with the total GLA for Stage 3A totalling 20,000 sq.m. It is important to note that factory outlet floorspace in this report refers to centre floorspace tenanted by predominantly discounted apparel/fashion stores, but can also contain discounted offers across the household goods, leisure and general retail categories. A subsequent expansion of 9,327 sq.m in GLA is planned to be delivered as part of Stage 3B, primarily building upon the provision of factory outlet uses at the centre, while also increasing the food and beverage amenities, in anticipation of a greater level of visitation at the centre. In total, Stage 3 developments at Eastern Creek Quarter is planned to contain a GLA of 29,327 sq.m, with 23,530 sq.m (equivalent to 80% of total GLA) designated for factory outlet uses. This report examines the potential for a factory outlet centre as part of Stage 3 developments at Eastern Creek Quarter and will include assessments of supportable floorspace, economic benefits and anticipated trading impacts on the relevant network of surrounding retail facilities. The Appendix of this report provides an analysis of the existing development consent for Stage 3 developments at Eastern Creek Quarter, comparing the current approved specialised retail concept and the proposed factory outlet development in terms of sales potential, trading impacts and employment generation. Table 1.2 Eastern Creek Quarter Stage 3 - Indicative Factory Outlet Centre floorspace by use Stage Stage Total 3A 3B Stage 3 Use/category (sq.m) (sq.m) (sq.m) Factory Outlet 16,150 7,380 23,530 Food and beverage 1,150 705 1,855 Kiosk* 120 131 251 Tenant storage/kiosks 1,080 1,111 2,191 Total retail 18,500 9,327 27,827 Entertainment* 1,500 - 1,500 Total GLA 20,000 9,327 29,327 **The split in floorspace between Stage 3A and 3B is yet to be determined and a provision of 120 sq.m and 131 sq.m has been assumed respectively, for the pruposes for this assessment. ** Classified as a non-retail use Source: Frasers Property; MacroPlan Eastern Creek Quarter – Stage 3 11 Economic Impact Assessment
Figure 1.2
Section 2: Trade area analysis This section of the report provides an analysis the likely trade area available to be served by the Eastern Creek Quarter factory outlet development, including current and projected population levels, the socio-demographic profile of the population, and the estimated current and future retail expenditure capacity of trade area residents. 2.1 Trade area definition The extent of the trade area or catchment that is served by any shopping centre, or retail facility, is shaped by the interplay of a number of critical factors. These factors include: i. The relative attraction of the retail facility or centre, in comparison with alternative competitive retail facilities of the same /relevant type. The factors that determine the strength and attraction of any particular centre are primarily its scale and composition (in particular the major trader or traders that anchor the centre); its layout and ambience; and carparking, including access and ease of use. ii. The proximity and attractiveness of competitive retail facilities. The locations, compositions, quality and scale of competitive retail facilities all serve to define the extent of the trade area which a retail facility is effectively able to serve. iii. The available road network and public transport infrastructure, which determine the ease (or difficulty) with which customers are able to access a centre, or retail facility. iv. Significant physical barriers which are difficult to negotiate, and can act as delineating boundaries to the trade area served by an individual centre, or retail facility. The trade area defined for Stage 3 of the Eastern Creek Quarter development reflects the following: • The high-profile location of the site, with regional accessibility provided by the M7 Westlink, the Great Western Highway and the M4 Motorway; • The planned composition of the centre. Stage 1 of Eastern Creek Quarter is planned to contain a neighbourhood centre, while Stage 2 is centred around a large format retail development. Stage 3, the subject assessment of this report is planned to encompass a critical mass of factory outlet retailers, with the overall development planned to accommodate a comprehensive retail offering; and • The location of competitive retail facilities in the surrounding region, including factory outlet centres, Large Format retail centres and traditional regional/sub-regional shopping centres. Eastern Creek Quarter – Stage 3 13 Economic Impact Assessment
Section 2: Trade area analysis The trade area has been defined to include a primary sector and four secondary sectors, as shown on Map 2.1 (while Map 2.2, which illustrates the retail context of the primary sector). The sectors defined are described as follows: • The primary sector contains the southern half of the Blacktown LGA, as well as the St Mary’s growth area to the west and the more established Erskine Park and St Clair region to the southwest of the subject site. • The secondary north sector contains the designated North West Growth Area of Sydney, as well as the adjoining region to the west which includes the town of Richmond, extending approximately 28 km north-west of the subject site. • The secondary east sector encompasses parts of the Cumberland and Parramatta LGAs, extending approximately 13 km east of the subject site. • The secondary south sector contains the majority of the Fairfield LGA and also part of Penrith and Liverpool, extending approximately 15 km south of the subject site. • The secondary west sector contains the majority of Penrith City, and parts of the Blue Mountains LGA. The combination of the primary and the secondary sectors is referred to as the main trade area throughout this report. The trade area defined is broad and wide-ranging and is reflective of the potential destinational draw of the centre, which is expected to provide a Regional/District – level offering for Western Sydney. Eastern Creek Quarter – Stage 3 14 Economic Impact Assessment
Map 2.1: Eastern Creek Main trade area and competition
Map 2.2: Eastern Creek Primary trade area and competition
Section 2: Trade area analysis 2.2 Trade area population Table 2.1 details the recent and projected resident population levels for the defined trade area. The population estimates and forecasts are based on the following sources: • Australian Bureau of Statistics (ABS) Census of Population and Housing (2011, 2016); • ABS Dwellings Approvals and Estimated Residential Population Data (2016 – 2019); • NSW Department of Planning, Industry and Environment population projections, 2019 • Transport for NSW (tfNSW) population projections by Travel Zones; • Forecast .id projections for Blacktown City (updated October 2017), the Hills Shire (October 2017), City of Parramatta (October 2017) and the Cumberland Council area (September 2017). • Investigations of residential developments in the main trade area and surrounding areas conducted by this office. The Eastern Creek Quarter main trade area population is estimated at almost 1.14 million at mid-2020, including close to 318,000 in the key primary sector. The main trade area population is projected to reach almost 1.34 million at 2031, reflecting an average annual growth rate of 1.5% over the period. The Covid-19 pandemic has introduced significant uncertainty in the Australian economy and the resulting rate of population growth in the main trade area is likely to be below that of the level anticipated, at least in the short term. On one hand, market uncertainty has led many households to deferring long term buying decisions in the property market, reducing demand for residential product. Furthermore, reduced net migration, both domestically and internationally, which had been the key driver of Sydney’s population, particularly for Greater Western Sydney, is also likely to have dampening effect on the residential market. One the other hand, record low interest rates as well as a programme state and federal government schemes incentivising demand seek to act as a buffers against a downturn. These policy initiatives, which are particular relevant for the Eastern Creek Quarter main trade area, whose greenfield development is underpinned by first home buyers and/or young families, include: • The First Home Owners Grant, which encompasses a $10,000 contribution to the purchase price of a new home up to $750,000; • The First Home Buyers Assistance Scheme – which grants a full or partial waiver of stamp duty of up to $800,000 in purchase price; • The Homebuilder Grant - a $25,000 grant for singles earning less than $12,500 per annum and couples up to $200,000 per annum, building new homes below $750,000 in value; and • The First Home Loan Deposit Scheme - with the government guaranteeing up to 15% of the property purchased, allowing first home owners to purchase without paying lender’s insurance with as a little as 5% deposit. Eastern Creek Quarter – Stage 3 17 Economic Impact Assessment
Section 2: Trade area analysis Assuming that an effective vaccine is widely distributed and freedom of movement becomes increasingly unconstrained, population growth is projected to approach forecast levels over the medium and long term particularly given the Reserve Bank has signalled interest rates will remain low for a sustained period. In the intervening period, purchasing decisions may be delayed in the short term and push out to future period, where there is greater certainty, security of employment and confidence in the wider economy. Table 2.1 ECQ Factory Outlet Centre trade area population, 2011-2031* Estimated population Forecast population Trade area sector 2011 2016 2020 2021 2026 2031 Primary 289,440 307,870 317,870 320,370 330,370 337,870 Secondary sectors • North 196,850 227,800 255,800 263,300 305,800 353,300 • East 176,290 195,940 211,940 215,940 235,940 255,940 • South 158,560 171,830 177,830 179,330 186,830 194,330 • West 154,040 167,730 175,730 177,730 186,730 194,230 Total secondary 685,740 763,300 821,300 836,300 915,300 997,800 Main trade area 975,180 1,071,170 1,139,170 1,156,670 1,245,670 1,335,670 Average annual growth (no.) Trade area sector 2011-16 2016-20 2020-21 2021-26 2026-31 Primary 3,686 2,500 2,500 2,000 1,500 Secondary sectors • North 6,190 7,000 7,500 8,500 9,500 • East 3,930 4,000 4,000 4,000 4,000 • South 2,654 1,500 1,500 1,500 1,500 • West 2,738 2,000 2,000 1,800 1,500 Total secondary 15,512 14,500 15,000 15,800 16,500 Main trade area 19,198 17,000 17,500 17,800 18,000 Average annual growth (%) Trade area sector 2011-16 2016-20 2020-21 2021-26 2026-31 Primary 1.2% 0.8% 0.8% 0.6% 0.4% Secondary sectors • North 3.0% 2.9% 2.9% 3.0% 2.9% • East 2.1% 2.0% 1.9% 1.8% 1.6% • South 1.6% 0.9% 0.8% 0.8% 0.8% • West 1.7% 1.2% 1.1% 1.0% 0.8% Total secondary 2.2% 1.8% 1.8% 1.8% 1.7% Main trade area 1.9% 1.6% 1.5% 1.5% 1.4% *As at June Source: ABS Census 2016; NSW DPIE 2019; NSW Transport Performance and Analytics 2016Forecast.id; Macroplan Eastern Creek Quarter – Stage 3 18 Economic Impact Assessment
Section 2: Trade area analysis 2.3 Socio-demographic profile Table 2.2 and Chart 2.1 detail the socio-demographic profile of residents within the defined main trade area as sourced from the 2016 ABS Census of Population and Housing. The profile is compared with benchmarks for metropolitan Sydney and Australia, with the key points to note including the following: • Average income levels for the main trade area population are lower than the metropolitan Sydney benchmark. • The average age of main trade area residents, at 35.6 years, is below the metropolitan Sydney average of 37.5 years. This reflects the high representation of children in the trade area and a much lower than average proportion of elderly residents. • Total home ownership levels throughout the main trade area are above the metropolitan Sydney average, underpinned by households who own their homes with a mortgage at 40%, compared to benchmark levels of 34%. • Approximately 60% of residents in the trade area are Australian born, while almost 20% of residents are Asian born, both in line with the metropolitan Sydney benchmark. • Traditional families (i.e. couples with dependent children) are the most common family type throughout the main trade area at 52%, while the proportion of lone person households is below benchmark levels. In summary, the trade area is characteristic of an outer growth area in Sydney, comprised of traditional families in their early life stages who are attracted by the relative affordability of housing and lifestyle in the area. Eastern Creek Quarter – Stage 3 19 Economic Impact Assessment
Section 2: Trade area analysis Table 2.2 ECQ Factory Outlet Centre main trade area - socio-demographic profile, 2016 Primary Secondary sectors Main Syd Metro Aust. Census item sector North East South West TA avg. avg. Per capita income $31,658 $44,235 $35,456 $30,012 $39,142 $35,935 $45,173 $39,800 Var. from Syd Metro bmark -29.9% -2.1% -21.5% -33.6% -13.4% -20.5% Avg. household income $96,155 $141,750 $103,341 $101,744 $107,491 $109,521 $123,654 $101,610 Var. from Syd Metro bmark -22.2% 14.6% -16.4% -17.7% -13.1% -11.4% Avg. household size 3.0 3.2 2.9 3.4 2.7 3.0 2.7 2.6 Age distribution (% of population) Aged 0-14 21.8% 23.0% 20.9% 20.0% 21.2% 21.5% 18.7% 18.7% Aged 15-19 6.9% 7.1% 5.1% 7.4% 6.6% 6.7% 6.0% 6.1% Aged 20-29 14.8% 12.5% 15.3% 14.5% 13.4% 14.1% 15.0% 13.8% Aged 30-39 15.4% 15.5% 19.5% 13.0% 14.5% 15.6% 15.5% 14.0% Aged 40-49 12.9% 15.6% 12.5% 13.4% 13.7% 13.6% 13.7% 13.5% Aged 50-59 12.0% 11.9% 10.2% 13.7% 12.1% 11.9% 12.2% 12.7% Aged 60+ 16.1% 14.5% 16.6% 18.0% 18.5% 16.5% 18.9% 21.1% Average age 35.2 34.7 35.6 36.8 36.5 35.6 37.5 38.6 Housing status (% of households) Owner (total) 63.7% 76.4% 57.7% 70.7% 71.8% 67.6% 64.2% 67.4% • Owner (outright) 24.8% 26.3% 26.0% 33.3% 29.0% 27.3% 30.0% 31.9% • Owner (with mortgage) 38.9% 50.1% 31.7% 37.4% 42.8% 40.3% 34.2% 35.5% Renter 35.9% 23.2% 41.3% 29.0% 27.7% 31.9% 35.1% 31.8% Birthplace (% of population) Australian born 59.2% 65.6% 49.2% 48.1% 80.2% 60.3% 60.9% 71.9% Overseas born 40.8% 34.4% 50.8% 51.9% 19.8% 39.7% 39.1% 28.1% • Asia 21.2% 19.2% 30.8% 17.5% 6.0% 19.5% 19.1% 11.2% • Europe 6.5% 6.8% 5.8% 9.1% 8.8% 7.2% 9.6% 9.6% • Other 13.1% 8.5% 14.3% 25.2% 5.0% 13.0% 10.4% 7.4% Family type (% of population) Couple with dep't child. 49.6% 59.7% 53.5% 50.6% 48.2% 52.3% 48.5% 44.8% Couple with non-dep't child. 10.7% 10.3% 8.7% 15.2% 9.5% 10.7% 9.1% 7.7% Couple without child. 15.4% 15.4% 17.3% 13.5% 19.8% 16.3% 20.1% 22.8% One parent with dep't child. 11.8% 6.7% 7.5% 10.3% 9.9% 9.4% 7.9% 8.8% One parent w non-dep't child. 5.3% 3.0% 4.3% 5.7% 4.3% 4.5% 4.1% 3.7% Lone person 5.9% 4.2% 7.3% 3.7% 7.5% 5.8% 9.2% 11.0% Car ownership % 0 Cars 26.5% 23.4% 5.1% 14.2% 10.0% 17.2% 11.4% 7.7% % 1 Car 41.8% 42.9% 30.4% 43.5% 40.3% 39.8% 38.5% 36.1% % 2 Cars 22.3% 23.8% 40.7% 30.1% 35.8% 29.6% 34.0% 37.5% % 3 Cars 6.2% 6.5% 14.8% 8.2% 9.5% 8.7% 10.5% 12.2% % 4 plus Cars 3.3% 3.3% 9.1% 3.9% 4.5% 4.7% 5.7% 6.5% Source: ABS Census of Population & Housing, 2016; Macroplan Eastern Creek Quarter – Stage 3 20 Economic Impact Assessment
Section 2: Trade area analysis Chart 2.1 ECQ Factory Outlet Centre main trade area - socio-demographic profile, 2016 Age distribution 25% 22% 21% ECQ Factory Outlet Centre PTA ECQ Factory Outlet Centre MTA Syd Metro Aust. Avg. 21% 20% 19% 19% 19% 15%16% 16%17% 15% 15% 16% 15% 14% 14% 14% 14% 14% 13% 14% 12%12%12% 13% 10% 7% 7% 6% 6% 5% 0% Aged 0-14 Aged 15-19 Aged 20-29 Aged 30-39 Aged 40-49 Aged 50-59 Aged 60+ Income levels $160,000 $123,654 $109,521 $120,000 $101,610 $96,155 $80,000 $35,935 $45,173 $39,800 $31,658 $40,000 $0 Per capita income Avg. household income Country of birth 80% 72% 59% 60% 61% 60% 41% 40% 39% 40% 28% 20% 0% Australian Born Overseas Born Family type 60% 52% 50% 48% 45% 50% 40% 30% 23% 20% 20% 15%16% 11%11% 12%9% 11% 9% 8% 8% 9% 6% 6% 9% 10% 5% 5% 4% 4% 0% Couple with Couple with non- Couple without One parent with One parent with non- Lone person dependent children dependent children children dependent children dependent children Source: ABS Census of Population & Housing, 2016; Macroplan Eastern Creek Quarter – Stage 3 21 Economic Impact Assessment
Section 2: Trade area analysis 2.4 Retail expenditure Macroplan estimates retail expenditure capacity generated by the main trade area residents based on information sourced from Market Data Systems (MDS), which utilises a detailed micro simulation model of household expenditure behaviour for all residents of Australia. The model takes into account information from a wide variety of sources including the regular ABS Household Expenditure Surveys, national accounts data, Census data and other information. MarketInfo data is a relatively accurate measure of available retail expenditure and is widely used in the retail industry. Chart 2.2 illustrates the average per capita retail expenditure capacity of main trade area residents for the year 2019/20, and compares these estimates with the average for metropolitan Sydney and Australia. All expenditure estimates are presented inclusive of GST. Total per capita retail expenditure for main trade area residents is estimated at $13,369 in 2019/20, which is below the Sydney metropolitan average of $15,004 per annum. Chart 2.2 ECQ Factory Outlet Centre main trade area - retail expenditure per person, 2019/20* Total retail $16,000 15,004 14,512 13,369 ECQ Factory Outlet Centre MTA Syd Metro Aust. Avg. $12,000 8,669 8,327 7,893 $8,000 6,335 6,185 5,476 $4,000 $0 Total Food Total Non-food Total Retail Food $4,000 3,201 3,272 3,386 $3,000 2,158 2,334 2,319 2,282 1,859 1,826 $2,000 $1,000 675 781 797 $0 Fresh Food Other Food & Groceries Packaged Liquor Food Catering Non-food $3,000 2,535 2,571 $2,500 2,236 $2,000 1,631 1,379 1,436 $1,500 1,003 1,090 1,119 $1,000 512 620 626 347 458 432 $500 $0 Apparel Household Goods Leisure General Retail Retail Services *Including GST Source: MarketInfo; Macroplan Eastern Creek Quarter – Stage 3 22 Economic Impact Assessment
Section 2: Trade area analysis Table 2.3 presents projections of total retail spending generated by the main trade area population over the period from 2020 to 2031, while Table 2.4 details the estimated retail spending capacity of the main trade area by retail category. Spending forecasts are presented in constant 2019/20 dollars, (i.e. excluding inflation) and include GST. The retail expenditure capacity of the main trade area is estimated to grow from $15.1 billion at 2020 to $19.3 billion at 2031, at an average annual growth rate of 2.2% over the forecast period. The key components underpinning this growth is the population growth of the main trade area, which is projected to increase at an average annual rate of 1.5%, while an allowance has been made for real growth in per capita retail expenditure which is expected to average between 0.6-0.7% per annum over the forecast period. The apparel expenditure capacity of the main trade area, which is the main expenditure category for factory outlet centres, is estimated to grow from $1.6 billion at 2020 to $1.9 billion at 2031, at an average annual growth rate of 1.9% over the forecast period. Table 2.3 ECQ Factory Outlet Centre main trade area - retail expenditure ($M), 2020-2031* Year ending Primary Secondary sectors Main June sector North East South West TA 2020 3,943 3,775 2,732 2,083 2,583 15,116 2021 4,002 3,911 2,804 2,115 2,631 15,463 2022 4,059 4,059 2,877 2,148 2,678 15,820 2023 4,113 4,217 2,950 2,181 2,723 16,184 2024 4,168 4,377 3,024 2,215 2,770 16,553 2025 4,223 4,539 3,100 2,249 2,817 16,927 2026 4,279 4,703 3,176 2,283 2,864 17,304 2027 4,332 4,876 3,253 2,318 2,910 17,689 2028 4,382 5,060 3,332 2,353 2,953 18,081 2029 4,433 5,247 3,411 2,389 2,998 18,477 2030 4,485 5,436 3,491 2,425 3,042 18,878 2031 4,537 5,627 3,572 2,461 3,088 19,284 Average annual growth ($M) 2020-2031 54.0 168.3 76.3 34.4 45.9 378.8 Average annual growth (%) 2020-2031 1.3% 3.7% 2.5% 1.5% 1.6% 2.2% *Constant 2019/20 dollars & including GST Source: MarketInfo; Macroplan Eastern Creek Quarter – Stage 3 23 Economic Impact Assessment
Section 2: Trade area analysis Table 2.4 ECQ Factory Outlet Centre main trade area - retail expenditure by category ($M), 2020-2031* Year ending FLG Food Apparel Household Leisure General Retail Total June catering goods retail services retail 2020 6,822 2,102 1,559 2,528 579 1,134 393 15,116 2021 6,983 2,159 1,589 2,582 590 1,158 402 15,463 2022 7,149 2,218 1,620 2,637 602 1,183 411 15,820 2023 7,318 2,278 1,651 2,694 614 1,208 421 16,184 2024 7,489 2,340 1,683 2,751 626 1,233 431 16,553 2025 7,662 2,402 1,715 2,809 639 1,259 441 16,927 2026 7,838 2,466 1,747 2,867 651 1,285 451 17,304 2027 8,017 2,531 1,779 2,926 664 1,311 461 17,689 2028 8,199 2,598 1,812 2,987 676 1,338 471 18,081 2029 8,383 2,666 1,845 3,047 689 1,365 482 18,477 2030 8,570 2,734 1,879 3,109 702 1,392 492 18,878 2031 8,759 2,805 1,912 3,171 715 1,420 503 19,284 Average annual growth ($M) 2020-2031 176.1 63.9 32.1 58.5 12.4 26.0 10.0 378.8 Average annual growth (%) 2020-2031 2.3% 2.7% 1.9% 2.1% 1.9% 2.1% 2.3% 2.2% *Constant 2019/20 dollars & including GST Source: MarketInfo; Macroplan Retail expenditure category definitions: • FLG: take-home food and groceries, as well as packaged liquor. • Food catering: expenditure at cafes, take-away food outlets and restaurants. • Apparel: clothing, footwear, fashion accessories and jewellery. • Household goods: giftware, electrical, computers, furniture, homewares and hardware goods. • Leisure: sporting goods, music, games, books, newspapers & magazines, stationery and photography equipment. • General retail: pharmaceutical goods, cosmetics, toys, florists, mobile phones and pets. • Retail services: hair & beauty, optical goods, dry cleaning, key cutting and shoe repairs. Eastern Creek Quarter – Stage 3 24 Economic Impact Assessment
Section 3: Competitive context This section of the report provides an overview of the competitive context in which the subject factory outlet centre will operate. A factory outlet development at Eastern Creek Quarter is likely to compete with other factory outlet centres in the surrounding region, as well as traditional shopping centres with a critical mass of apparel retailers, i.e. regional centres, and to a lesser extent, sub-regional centres. Table 3.1 presents a summary of the factory outlet centres in Sydney, while Table 3.2 presents the relevant competitive higher order centres in the surrounding region (with the locations of these facilities illustrated on Map 2.1 and Map 2.2 respectively. The key points to note are summarised below. Table 3.1 Eastern Creek Quarter - Stage 3 - schedule of factory outlet centres Retail Dist. by road from Centre GLA Offer ECQ (sq.m) (km) Within trade area Fashion Spree - Liverpool 15,000 59 predominantly national fast fashion and 20.0 casual apparel tenants Beyond trade area DFO Homebush 29,880 110 international, luxury and mid-market apparel 25.0 retailers, 15 large format stores Birkenhead Point 35,000 Coles, Aldi, 10 homemaker mini-majors 34.0 apparel and outlet outlet specialties Source: SCN Shopping Centre News; Vicinity; Property Council of Australia; MacroPlan Eastern Creek Quarter – Stage 3 25 Economic Impact Assessment
Section 3: Competitive context Table 3.2 Eastern Creek Quarter Stage 3 - schedule of major traditional retail facilities Retail Dist. by road from Centre GLA Major traders ECQ (sq.m) (km) Within trade area Regional centres Westpoint Blacktown 82,500 Myer, Target, Big W, Coles, Woolworths, Aldi 7.2 Westfield Parramatta 137,700 David Jones, Myer, Kmart, Target, Coles, Woolworths 16.5 Westfield Penrith 76,000 Myer, Big W, Target, Woolworths, Aldi 21.6 Sub-regional centres Westfield Mt. Druitt 60,000 Kmart, Target, Woolworths, Coles 4.3 Plumpton Marketplace 16,000 Big W, Woolworths 5.7 Plumpton SC (p) 15,000 dds (p), smkt (p) 6.0 St. Mary's Village 15,700 Target, Woolworths 9.0 Stockland Wetherill Park 71,500 Big W, Target, Coles Woolworths 12.1 Stanhope Village 18,000 Kmart, Coles, Aldi 12.6 Nepean Village 23,000 Kmart, Coles Rouse Hill TC 15.0 • Rouse Hill TC (existing) 56,600 Big W, Target, Woolworths, Coles • Rouse Hill TC (p) 29,000 ds (p), smkt (p) Stockland Merrylands 59,600 Big W, Target, Kmart, Coles, Woolworths, Aldi 15.9 Bonnyrigg Plaza 21,000 Big W, Woolworths 16.6 Winston Hills SC 24,500 Big W, Woolworths, Coles, Aldi 17.4 Fairfield Forum 18,000 Kmart, Coles, Aldi 17.7 Neeta City 20,000 Big W, Woolworths 18.7 Carnes Hill Marketplace 17,200 Big W, Woolworths 19.3 Richmond Marketplace 16,500 Big W, Woolworths 25.8 Beyond trade area Westfield Liverpool 83,400 Myer, Target, Big W, Coles, Woolworths 20.9 Castle Towers 24.6 • Castle Towers (existing) 101,900 David Jones, Myer, Kmart, Target, Coles, Aldi • Castle Towers (p) - dds (p), smkt (p) Westfield Burwood 63,200 David Jones, Kmart, Target, Coles, Woolworths 28.1 Macquarie Centre 135,500 David Jones, Myer, Big W, Target, Woolworths, Aldi 37.3 Westfield Hornsby 99,800 David Jones, Myer, Kmart, Target, Woolworths, Aldi 38.4 Source: Property Council of Australia; Shopping Centre News; MacroPlan Eastern Creek Quarter – Stage 3 26 Economic Impact Assessment
Section 3: Competitive context Outlet centres • Fashion Spree Liverpool is a recently new factory outlet development, situated on Orange Grove Road in Warwick Farm, approximately 20 km south-east of the subject site. The centre contains close to 60 predominantly fast fashion/streetwear apparel retailers (Glue, H&M, Bonds Outlet, Just Jeans, Supre, Converse), across 15,000 sq.m of floorspace. • DFO Homebush is one of the most successful factory outlet developments in Australia and is located around 25 km east of the subject site. The two-level centre contains over 100 outlet retailers, including a large provision of luxury and high-end brands (such as Burberry, Coach, Zegna, Max Mara, Mulberry, Salvatore Ferragamo, Armani), mid-market luxury international labels (such as Calvin Klein, Guess, Hugo Boss, Ted Baker, Michael Kors), as well as a provision of prominent casual apparel retailers. • DFO Homebush also contains a sizable large format retail component, encompassing 15 large format retailers including JB Hi-Fi Home, Adairs, Adventure Megastore, Oz Design Furniture and Snooze. The centre achieved a very strong MAT of $331.4 million in 2019, at a sales productivity rate of $12,413 per sq.m. • Located around 33 km east of the subject development, Birkenhead Point Outlet Centre is a hybrid development, which in addition to a significant provision of factory outlet apparel floorspace, contains Coles and Aldi supermarkets. According to SCN Little Guns, the centre recorded sales of $299 million in 2019, at an average sales productivity of $10,406 per sq.m. Traditional retail centres • Westpoint Blacktown is a large regional centre encompassing 82,500 sq.m of retail floorspace, located approximately 7.2 km north east of Eastern Creek Quarter. The centre is anchored by a Myer department store, Target and Big W dds, as well as Coles and Woolworths supermarkets. According to SCN Big Guns 2019, the centre achieved an MAT of $522.99 million at a sales productivity level of $6,439 per sq.m, and a specialty sales productivity level of $9,406 per sq.m. Westpoint Blacktown contains an extensive provision of mini-major tenants, including JB Hi-Fi, Daiso, T K Maxx, Best&Less and rebel. The centre encompasses over 70 apparel stores (equivalent to an estimated 10,000 sq.m), and possesses a particular focus on low price point/ fast fashion for teenagers and young adults (such as Factorie, Forever New, Jay Jays, Jeanswest and Platypus), a range of womenswear targeting the suburban mum (Millers, Suzanne Grae and Rockmans) and childrenswear (Cotton On Kids, Carter’s Osh Kosh and Best and Less). There are also close to 60 food & beverage retailers, comprised of fast food operators (such as KFC, McDonald’s and Hungry Jack’s), food court/takeaway options (such as Donut King, Ali Baba and Sandwich Chefs), cafes (such as Gloria Jean’s Coffee, Jamaica Blue and the Coffee Club) and casual dining restaurants such as Nando’s, Hogs Breath Café and Mad Mex. • Located approximately 16.5 km east of Eastern Creek Quarter, Westfield Parramatta, is a regional centre encompassing 137,700 sq.m of retail floorspace, and is anchored by David Jones and Myer department stores, Kmart and Target dds, as well as Coles and Woolworths supermarkets. According to SCN Big Guns, Westfield Parramatta achieved a MAT of $834.55 million at a sales productivity level of $6,822 per sq.m, and a specialty sales productivity level of $12,215 per sq.m. The centre contains a large apparel provision, possessing close to 130 apparel stores in the centre, which are mainly centred around low price point/ fast fashion for teenagers and young adults (such as Valleygirl, General Pants Co, Factorie, Bardot, Glue and Industrie), mid-market Eastern Creek Quarter – Stage 3 27 Economic Impact Assessment
Section 3: Competitive context apparel (Witchery, Tony Bianco, Oroton, Aquila) and streetwear/athleisure (Nike, Glue, General Pants Co.). There are also a number of jewellery retailers (such as Bevilles, Eternity Jewellers, Gregory Jewellers, Goldmark and Michael Hill Jewellers) and prominent international fashion retailers (such as Uniqlo, Superdry and Victoria’s Secret). As is typical for regional Westfield Centre, food and beverage is a key emphasis. There are close to 100 food catering operators, comprised fast food (such as McDonald’s, Hungry Jack’s and KFC), food court offerings (such as Roll’d, Oporto, Soul Origin and Subway), cafes (Gloria Jean’s coffee, Starbucks and the Coffee Emporium) and a number of casual dine-in restaurants (such as Pappa Rich, Grill’d and Chefs Gallery). • Westfield Penrith is a regional centre encompassing a retail GLA of 76,000 sq.m, located approximately 21.6 km west of Eastern Creek Quarter, anchored by a Myer department store, Big W and Kmart dds, as well as Coles and Woolworths supermarkets. According to SCN Big Guns, Westfield Penrith recorded a MAT of $676.14 million at a sales productivity level of $8,244 per sq.m, and a specialty sales productivity level of $12,109 per sq.m. Westfield Penrith features approximately 100 apparel stores, mostly comprising fast fashion offerings (such as Valleygirl, Supre, Bardot and Country Road), streetwear/athleisure (Glue, General Pants Co.), jewellery retailers (York Jewellers, Prouds the Jewellers, Pandora and Michael Hill) and footwear retailers (such as Ziera, Wittner and R.M. Williams). There are also 64 food catering stores operating within the centre, mainly comprising fast food (such as McDonald’s and KFC), food court offerings (such as Ali Baba, Subway, Donut King and Sushi Hub), cafes (such as The Coffee Club, The Coffee Emporium, Muffin Break and Café LeLunar) and dine-in restaurants (such as The Bavarian, Rashay’s Casual Dining, Grill’d and Coco Cubano). • Westfield Mt. Druitt is a large sub-regional centre encompassing a retail Gross Leasable Area (GLA) of 60,000 sq.m, located approximately 4.3 km north-west of the Eastern Creek Quarter, and is anchored by Kmart and Target dds, as well as Woolworths and Coles supermarkets. According to SCN Big Guns, Westfield Mt. Druitt recorded a MAT of $676.14 million at a sales productivity level of $8,005 per sq.m, and a specialty sales productivity level of $8,948 per sq.m. Westfield Mt. Druitt is comprised of a more ad hoc provision of almost 60 apparel retailers (equivalent to an estimated 6,000 sq.m), with Millers, Collette, Footlocker, Strandbags and Pandora the most prominent operators. There are 44 food catering retailers operating within the centre, mainly comprising fast food outlets (such as McDonald’s, Hungry Jacks, Subway and KFC) as well as food court offerings (such as Soul Origin, Yiro’Yio, Hero Sushi and Donut King) and cafes (such as Café Lelunar, Jamaica Blue, Gloria Jean’s Coffee and Starbucks). It has been noted that the $1.49 billion Mt. Druitt CBD revamp has recently been approved by the State Government. The project is planned to deliver 2,800 new apartments, as well as a mix of cafes, restaurants, other retail and commercial uses. This revitalisation is unlikely to bear a strong competitive influence on the factory outlet centre at Eastern Creek Quarter, as it will likely have a food & beverage focus. Any competitive fashion tenants are likely to be provided more ad hoc, without a critical mass or scale to have a competitive bearing on the subject centre. • Stockland Wetherill Park is a large sub-regional shopping centre encompassing a retail GLA of 71,500 sq.m, located 12.1 km south east of the Eastern Creek quarter, anchored by a Big W and Target dds and Coles and Woolworths supermarkets. According to SCN Big Guns, Stockland Wetherill Park recorded a MAT of $381.83 million, at a sales productivity level of $6,627, and a specialty sales productivity level of $9,091. There are 63 apparel retailers operating in the shopping centre, with a focus on low-end fast fashion retailers (such as Jay Jays, Just Jeans, Bardot, Forever New and Dotti), menswear (Connor, Industrie, Politix) footwear retailers (such as Foot Locker, Platypus, Sketchers and Novo Shoes) and jewellers (such as Prouds, Pandora, Eastern Creek Quarter – Stage 3 28 Economic Impact Assessment
Section 3: Competitive context Atlas Jewellers and Michael Hill). Stockland Wetherill Hill also features 44 food catering retailers, mainly comprising fast food (such as McDonald’s, KFC and Subway), food court offerings (such as Soul Origin, Hokka Hokka, Curry Delight and Ataman Kebab) and cafes (such as Gloria Jean’s Coffee, The Coffee Emporium, Café Cherry Beans and Blue Star Café), as well as a small range of dine-in restaurants (such as Mr. Chen Chinese Restaurant, Nando’s, The Bavarian and Savanas Restaurant). • Rouse Hill TC is a large sub-regional shopping centre encompassing a retail GLA of 56,600 sq.m, located 15 km north east of the Eastern Creek Quarter, anchored by a Big W and Target dds and Woolworths and Coles supermarkets. GPT Group, the owners of Rouse Hill TC, announced plans to expand the shopping centre, proposing an additional 29,000 sq.m of retail GLA and the addition of a new dds and supermarket. Rouse Hill TC recorded a MAT of $435.57 million at a sales productivity level of $7,987, and a specialty sales productivity level of $8,753 per sq.m. There are 59 apparel retailers operating within centre, which mainly comprise fast fashion, mid-market retailers and athleisure/streetwear (such as Bardot, City Beach, Cotton On, Dotti, General Pants Co and Jay Jays) and jewellers (such as Prouds, Pandora, Forever Jewellers and Carati Jewellers). There are also 44 food catering retailers operating within the centre, with a particular focus on food court/takeaway food type tenancies (such as Sushi Tabi, Dumpling Project, Seoul Street Food and Fogo Brazilia) and dining (the Bavarian, Outback Jacks, Lusso Italian Restaurant). • Located in the Blacktown LGA, Plumpton Marketplace is a single discount department store centre, anchored by Big W and a Woolworths supermarket. Despite its sub-regional status, the centre provides a strong focus on serving the main food, grocery and convenience-oriented needs of residents in the surrounding region. The centre encompasses a small provision of apparel retailers (equivalent to an estimated 1,500 sq.m), which includes Millers, Crossroads and Strandbags the key retailers. • Also located in the Blacktown LGA, Stanhope Village is a Kmart anchored single discount department store centre, which also contains Coles and Aldi supermarkets. Like Plumpton Marketplace, the centre aims to serve the weekly food, grocery and convenience-oriented needs of surrounding residents and contains a generally limited apparel offer (with Cotton On, Crossroads and Noni B the key retailers). • There are also a number of additional smaller sub-regional shopping centres within the trade area. However, due to the smaller scale of their apparel offer, it is unlikely these centres will bear a strong competitive influence on the factory outlet development at Eastern Creek Quarter. Eastern Creek Quarter – Stage 3 29 Economic Impact Assessment
You can also read